Goldman Sachs Group Inc. Has $428,000 Stake in Jumia Technologies $JMIA

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Jumia Technologies by 75.7%, now owning 199,287 shares valued at approximately $428,000.
• Other hedge funds have increased their positions in Jumia Technologies, with WealthTrust Axiom LLC increasing its holdings by 30.8% and Octavia Wealth Advisors LLC by 89.2%.
• Analysts from the Royal Bank of Canada upgraded Jumia Technologies to an "outperform" rating and raised the target price to $15.00, suggesting positive market sentiment.

Goldman Sachs Group Inc. decreased its stake in shares of Jumia Technologies (NYSE:JMIA - Free Report) by 75.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 199,287 shares of the company's stock after selling 620,682 shares during the period. Goldman Sachs Group Inc. owned 0.16% of Jumia Technologies worth $428,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Deuterium Capital Management LLC acquired a new position in shares of Jumia Technologies during the 1st quarter valued at about $27,000. PDS Planning Inc acquired a new position in shares of Jumia Technologies during the 1st quarter valued at about $31,000. WealthTrust Axiom LLC increased its holdings in shares of Jumia Technologies by 30.8% during the 1st quarter. WealthTrust Axiom LLC now owns 17,161 shares of the company's stock valued at $37,000 after acquiring an additional 4,036 shares during the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of Jumia Technologies by 89.2% during the 1st quarter. Octavia Wealth Advisors LLC now owns 31,020 shares of the company's stock valued at $67,000 after acquiring an additional 14,625 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Jumia Technologies by 28.6% during the 1st quarter. Blair William & Co. IL now owns 33,700 shares of the company's stock valued at $72,000 after acquiring an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 16.50% of the company's stock.

Jumia Technologies Stock Performance

JMIA opened at $11.39 on Friday. The stock's 50 day moving average price is $7.91 and its two-hundred day moving average price is $4.68. The company has a quick ratio of 1.28, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. Jumia Technologies has a 12-month low of $1.60 and a 12-month high of $12.37.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada raised Jumia Technologies from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $6.50 to $15.00 in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $15.00.

Jumia Technologies Profile

Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally. The company's platform consists of marketplace that connects sellers with customers; logistics service, which enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets under the JumiaPay name.

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